Online shopping poses great security concerns. Completing an online shopping transaction requires accessing and transmitting substantial sensitive customer information between customers and merchants. Current malware and phishing attacks attempt to and on occasion succeed in accessing this sensitive account information, causing significant financial harm to customers, merchants, and financial institutions.
Also, using existing systems, customers need to manually provide customer and payment information to complete online shopping transactions. Additionally, a user may need to log in to a browser extension for each transaction. Not only is this burdensome and time-consuming for customers, but it also leads to the possibility of a failed transfer due to the entering of incorrect customer information, which is a likely occurrence when such information is entered manually. As such, there is a need for a faster, easier and more secure online payment checkout process.
These and other drawbacks exist.